My wife is having a baby soon and we are interested in buying insurance for our baby to safeguard his future. We are looking for more than just medical card. Is there a recommended starter kit or general comprehensive package for newborn babies? Right now we don't want to buy an education plan but focus on medical, life, CI etc. Is it better to buy when baby is young, or wait until he is older?

How much is the annual premium for this so-called comprehensive package? Is RM4,000 a year sufficient? What should I be looking for in this package? I understand insurance for adults as both my wife and I are insured, but how does insurance work for babies? Please help as I would like to plan before it is too late. I am currently paying about RM8k per year on my own insurance and RM5k for my wife. Everyone tells me that insurance is a "must have" but since I have never claimed anything before and paying quite high premium, I am wondering if it is really worth it or just burning my money. Thanks for help.